Thursday, November 08, 2012

Asset Poverty Is Rising

One in five American households is asset poor, according to the Urban Institute. Asset poverty is defined as not having enough net worth (wealth) to survive for three months at the federal poverty level--or $5,580 in net worth for a family of four.

The percentage of households in asset poverty grew from 16.1 to 19.6 percent between 2007 and 2010. The asset poverty rate is highest among the youngest householders...

ABOUT ME

Demographer and editorial director of New Strategist Press, Cheryl Russell is the former editor-in-chief of American Demographics magazine and The Boomer Report. She has written numerous books about demographic trends. Ms. Russell is a professional demographer with a master's degree from Cornell University.